Australia is planning to go ‘green’ in a big way, to help cut greenhouse gas emissions in Australia’s energy sector over the next 30 years. Two Victorian energy projects are drawing an investment of $125 million.
The first two projects are announced by Treasurer Peter Costello and Industry Minister Ian Macfarlane under the $500 million low emissions technology demonstration fund (LETDF).
The first project to be started in 2008 is a $75 million grant for a $420 million large-scale solar concentrator in north-western Victoria, which will reach its full capacity by 2013. It is to be built by Melbourne-based Solar Systems Pty Ltd.
The second $50 million grant is towards a $360 million pilot for a brown coal drying and a post-combustion carbon dioxide capture and storage project, whose construction is to begin early next year and to be completed by the end of 2009. It will be located at the International Powers’ Hazelwood facility in Gippsland.
